Will Bitcoin fall through? Why did the altcoins plummet?
The most concerning question for everyone now is whether the market will continue to fall?
This question is very difficult to answer, and anyone who can give you an accurate answer is fooling you.
From a technical point of view, the position of Bitcoin 65,000 is very critical. If it can stand firm, then the market can also be stabilized.
Bitcoin has not actually fallen much, but the altcoins have plummeted.
Why did the altcoins plummet?
Because the major exchanges have listed new coins too frequently.
The market funds have not increased, and all the funds have been dispersed.
This has caused the phenomenon that the altcoins have actually been falling, and even the increase is very small. This time, the rapid pullback of Bitcoin and Ethereum has scared the market, and the altcoins can no longer bear the collapse.
In fact, I quite like the current market. The previous market has been fluctuating in a range, neither hot nor cold, and it can neither go up nor down.
Either it goes up directly, or it goes down directly.
So I think it is a good thing to fall.
The market has started to move. No matter how the bull market moves, it is a good thing. The most feared thing is that it does not move.
First of all, from historical experience, every time Bitcoin plummets, there will be a bigger rebound.
Secondly, from a fundamental point of view, Bitcoin is still the big brother of the cryptocurrency market, and its position is unshakable.
Finally, from the perspective of funds, there is still a lot of money waiting to enter the market.
Therefore, I am still optimistic about the future of Bitcoin, but I suggest that investors should not blindly buy the bottom, but should wait patiently for the market to stabilize.
As for altcoins, I think further observation is needed.
If Bitcoin can stabilize and rebound, then altcoins may also usher in a wave of rebound.
But if Bitcoin continues to fall, then altcoins may continue to plummet.
Therefore, investors need to be more cautious when investing in altcoins.
In short, the current cryptocurrency market is still in turmoil, and investors need to invest cautiously.
